LG Display raises investment at Vietnam factory by $1.4 bln - local govt (updated)

LG DISPLAY

31/08/2021 11:39

(Adds details)
    HANOI, Aug 31 (Reuters) - Vietnam has awarded a licence to
South Korea's LG Display  034220.KS  that will see it raise its
investment in the northern port city of Haiphong by $1.4
billion, the city's People's Committee said on Tuesday.
    The investment will boost the company's OLED display output
at the Haiphong factory to 13 million to 14 million units per
month, from the current 9.6 million to 10.1 million monthly
units, the committee said in a statement.
    The additional $1.4 billion will raise the LG Display
investment to $4.65 billion. 
    The company did not immediately respond to a request for
comment. 
    The additional investment would generate 10,000 new jobs and
create export revenue of $6.5 billion a year, the committee
said. 
    

 (Editing by Martin Petty)